Texas Insurance Code 1805.051 – License Application
Current as of: 2024 | Check for updates
|
Other versions
(a) A corporation, unincorporated association, partnership, or individual may file with the commissioner an application for an advisory organization license for the kinds of insurance specified in the application.
(b) The applicant must:
(1) file with the commissioner:
(A) a copy of the applicant’s:
(i) constitution and bylaws;
(ii) article of agreement or association or certificate of incorporation; and
(iii) rules governing the applicant’s activities as an advisory organization; and
(B) a statement of qualifications to act as an advisory organization; and
(2) pay a $100 license fee.
Terms Used In Texas Insurance Code 1805.051
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.